What Is ApeCoin and Who Is Behind the Ape Ecosystem?
The NFT industry was booming the previous year. The NFT project Bored Ape Yacht Club (BAYC) launched by Yuga Labs in 2021 became one of the leading NFT collections out there. The cheapest NFT was traded at 72 ETH which is over $100,000 even considering the current unstable situation in the crypto world.
Looking for more profit and the possibility of entering the new P2E market, Yuga Labs launched ApeCoin. It is a governance and utility token behind the Ape ecosystem. It is an ERC-20 token with a maximum supply of 1 bln coins. It is controlled by the Ape community.
There is the ApeCoin DAO which is responsible for enabling all the community members to vote on the directions of project development.
Yuga Labs is a Web3 company and owns the intellectual property of two more popular NFT collections: Meebits and CryptoPunks. The company is led by Yuga Sato - the project founder and CEO.
ApeCoin (APE) Price Prediction
Thus, it looks like ApeCoin may be a lucrative investment in both the short- and long time. And indeed, considering the BAYC popularity and the prices at which the NFTs are sold, it is not surprising that most users are optimistic about the ApeCoin future.
But what do experts say?
ApeCoin Fundamental Analysis
ApeCoin is the main currency in the Ape ecosystem. The token will power all the transactions within the ecosystem. It also will be used to reward users for their contributions.
ApeCoin is also a governance token of the ecosystem. It means that token holders can decide on the following updates in the ecosystem and vote on proposals.
ApeCoin (APE) Live Price Chart
Source: https://coinmarketcap.com/currencies/apecoin-ape/
ApeCoin Technical Analysis
ApeCoin has suffered from market collapse, just like the majority of crypto projects. The coin lost over 85% of its all-high of more than $26. The price continues to move downwards.
ApeCoin Price Prediction
The token success depends directly on the success of the project that it supports. So, let us have a look at what forecasts are there for ApeCoin.
ApeCoin Price Prediction 2024
Judging from the coin performance, it is expected that the ApeCoin minimum price will be around $6 in 2024. The maximum price won’t be much higher though and is expected to be around $7. The average trading value will be around $6.1.
ApeCoin Price Prediction 2025
During 2024, the Ape ecosystem will be growing and developing, and thus, it will impact the ApeCoin price positively. So, during 2025, the token value is expected to fluctuate between $12.4 and $15, with an average trading value of $13.
ApeCoin Price Prediction 2030
By 2023, ApeCoin will support a pretty developed ecosystem. The token’s value will fluctuate between $82 and over $100, with an average trading value of approximately $85 in 2025.
Final Thoughts
ApeCoin powers a project that is popular and which NFTs already are among the top ones. Which perspectives do the coin and the project have in the future? It is difficult to tell for sure, and it all will depend on whether the project manages to deliver some utility.
FAQ
Is ApeCoin a good investment?
At this point, it is difficult to determine whether ApeCoin is a good or a bad investment. To see whether the project is going to develop, we need some time.
How high can ApeCoin go?
It all depends on the development of the main project and whether it is going to have some utility beyond NFTs. If it manages to stay afloat, its token can go high indeed.
Does Ape Coin have a future?
As long as BAYC is developing and doing something to add new things, ApeCoin has a future.
What will ApeCoin be worth in 2025?
It is expected that the coin will be traded in the range between $12.4 and $15 in 2025.
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